Not actually having the total of capital…Bitboy Crypto Controversy… so with anything that you’re finding out about please do study the platform do not just assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you really get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row invest in these choices since you believe is the best ones for you and that being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved actually critical you understand what are the expenses of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge websites then may not charge you for really buying and selling etfs or funds individual commodities specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually essential to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling okay so commission costs are free however there are a couple of other charges the first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say okay that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they actually giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state offer me us dollars rather you need to pay their costs now the fantastic feature of however when you’ve converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really good utilizing that part of their site won’t certainly restrict you in any way however we have to know two other costs the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Bitboy Crypto Controversy.
You are provided numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to choose, then this may be precisely what you require.